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News Room / mCig, Inc. To Raise Price Of VitaCig From $2 Each To $3 Each

mCig, Inc. To Raise Price Of VitaCig From $2 Each To $3 Each

mCig, Inc. (OTCQB: MCIG) saw its share volume slide on June 10th with 1,733,369 shares exchanging hands, nearly half of its three month daily average volume of 3,388,543 shares.

VitaCig, Inc., an mCig, Inc. Company, provided results of the recently completed independent testing on its products. As previously announced in May, VitaCig implemented new production and chain of custody standards that included the independent testing of batches for the purpose of labeling each package with supplemental nutritional information, expiration dates, and traceable batch numbers.

On June 10, 2014, VitaCig prices will be raised to $3 each from $2 each as part of multiple retail distribution strategies being implemented that require a uniform retail MSRP for the product.

"We have decided to raise the price of VitaCig to $3. This decision was not driven by a rise in costs. In fact, the entire price increase will translate into additional profit for sales generated via our online store. This decision is driven by our recently implemented retail distribution strategy which relies on fixed embedded margins for each segment of the distribution channel. For VitaCig to succeed in retail storefronts, its cost to a consumer at point of sale must be comparable to that of a consumer purchasing direct from the company."

"We are very excited about the future of VitaCig, a product that has achieved growth at a more rapid pace than our game-changing mCig device. The mCig was purpose built for repeat use while the VitaCig is disposable leading to a higher percentage of repeat customers. In just 55 days of sales, 15% of all VitaCig customers have already re-ordered. Coupled with the nutritional labeling announced today, potential distributors can feel confident that this product has economic potential, chain of custody standards, and accountability of ingredients," said Paul Rosenberg, CEO of mCig, Inc.

MCIG closed the day at $.49 on June 10th, up 6.29% from its previous close of $.461.

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Medical Marijuana, Inc. (OTCPINK: MJNA) saw its share volume skid on June 10th with 2,305,308 shares exchanging hands, three times lower than its three month daily average volume of 7,617,080 shares.

Medical Marijuana Inc. announced yesterday that its subsidiary company, HempMeds(TM), was the platinum sponsor of the Chicago Cannabis Conference in Chicago, Illinois June 7-8. The Chicago Cannabis Conference was hosted by MyCompassion, a non-profit organization whose mission is to educate the public on medical cannabis use with the passing of the Illinois Compassionate Care Act. Billboards conveying the upcoming conference were strategically placed throughout the Chicago Metro area reaching millions of impressions leading up to the event that was held at Navy Pier at the conclusion of Hemp History Week.

"HempMeds is very humble and grateful to have garnered such significant global media attention; this is just the beginning as our young industry begins to take shape and HempMeds continues to blaze the trail as a pioneer in the space," states Andrew Hard, Director of Public Relations for HempMeds. "We fully support MyCompassion's mission and are very grateful to them for putting on such a historic show and giving HempMeds and others in the cannabis industry this platform to speak out and counter all of the misinformation out there about our shared common goals."

MJNA closed the day at $.2095 on June 10th, 5.28% higher than its previous close of $.199.

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Hemp, Inc. (OTCPINK: HEMP) saw its share volume dip on June 10th with 7,794,008 shares exchanging hands, nearly three times lower than its three month daily average volume of 21,016,312 shares.

Just two weeks ago, Hemp, Inc.'s wholly owned subsidiary, The Industrial Hemp and Medical Marijuana Consulting Company, Inc. (IHMMCC), announced that it had signed a consultant agreement with View Systems, Inc. (OTCQB: VSYM), a leading Baltimore-based manufacturer and provider of integrated weapons detection systems. Per the agreement, IHMMCC will provide product distribution, professional sales and marketing services, and sales representation for the View-Scan product line to the Industrial Hemp and Medical Marijuana Industries, as well as other traditional channels of distribution.

Gunther Than, CEO of View Systems, Inc. mentioned of the exposure, "We are pleased to have had the opportunity to educate the investors on how we can, economically, offer such a superior level of protection and illustrate its ease of use and how beneficial of an impact our View-Scan products can have on the ballooning marijuana industry." He continued, "Yesterday was such a great day for us. We are definitely looking forward to working with Hemp, Inc.'s IHMMCC. Hemp, Inc. has already put us in front of some of the major players."

The collaboration is already off to a good start, according to Bruce Perlowin, CEO of Hemp, Inc. (HEMP). "The View-Scan units are very much needed in our industry so it will integrate well," says Perlowin. "This is our 11th signed agreement and we expect to surpass the units we agreed to sell, primarily because View Systems manufactures the leading mid-priced, video-capture, pedestrian entry weapons detection system that is known for its reliability, accuracy and ease of use. Because marijuana dispensaries are cash-based, at the moment, there is a demand for hi-level security. The View Scan System also provides a remote view which makes it more effective. Overall, this is just what this expanding and growing, multi-billion dollar Industrial Hemp and Medical Marijuana Industry needs."

According to Hemp, Inc. CEO, Bruce Perlowin, IHMMCC has created a one-stop-shop for industry information, education, products and services, research and development, marketing, and channels of distribution for the industrial hemp and medical marijuana sector...which is what attracted View Systems, Inc. to them. "This strategic alliance is an extension of View Systems' marketing strategy. By working with us, we expect View Systems to gain significant market share by delivering an intergrated superior quality, security and protection product, designed to deploy an optimized solution for not only dispensaries but all facilities in need of protection. This is just the beginning of a lot of great things to come," concluded Perlowin.

HEMP closed the day at $.056 on June 10th.

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